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Bowhead Specialty Holdings Inc. (BOW) 10-Year Financial Performance & Capital Metrics

BOW • • Insurance & Managed Care
Financial ServicesProperty & Casualty InsuranceSpecialty & Excess Lines InsuranceProfessional & Management Liability
AboutBowhead Specialty Holdings Inc. provides specialty property and casualty insurance products in the United States. It underwrites casualty insurance solutions for risks in the construction, distribution, heavy manufacturing, real estate, and hospitality segments; professional liability insurance solutions for financial institutions, private and public directors and officers liability insurance, errors and omissions liability insurance, and cyber segments; and healthcare solutions for hospitals, senior care providers, managed care organizations, miscellaneous medical facilities, and healthcare management liability segments. The company distributes its products through distribution partners in wholesale and retail markets. Bowhead Specialty Holdings Inc. was formerly known as Bowhead Holdings Inc. and changed its name to Bowhead Specialty Holdings Inc. in March 2024. The company was founded in 2020 and is based in New York, New York. Bowhead Specialty Holdings Inc. operates as a subsidiary of Bowhead Insurance Holdings LP.Show more
  • Revenue $426M +50.2%
  • Combined Ratio 88.13% -0.6%
  • Net Income $38M +52.7%
  • Return on Equity 13.6% -25.2%
  • Medical Cost Ratio 65.91% -0.2%
  • Operating Margin 11.87% +4.8%
  • Net Margin 8.99% +1.7%
  • ROA 2.85% -9.3%
  • Equity / Assets 22.39% +19.8%
  • Book Value per Share 12.48 +104.9%
  • Tangible BV/Share 12.48 -14.6%
  • Debt/Equity -
Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

  • ✓Profitable underwriting: 88.1% combined ratio
  • ✓Good 3Y average ROE of 15.1%
  • ✓Share count reduced 5.9% through buybacks

✗Weaknesses

  • ✗Weak momentum: RS Rating 16 (bottom 16%)
  • ✗Trading more than 30% below 52-week high

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-
5Y-
3Y-
TTM33.43%

Profit (Net Income) CAGR

10Y-
5Y-
3Y-
TTM78.61%

EPS CAGR

10Y-
5Y-
3Y-
TTM67.74%

ROCE

10Y Avg22.18%
5Y Avg22.18%
3Y Avg22.18%
Latest3.77%

Peer Comparison

Professional & Management Liability
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Sector-Specific
NameMarket CapCurrent PriceP/E RatioRevenue Growth 1YNet MarginROEFCF YieldDebt/Equity
STCStewart Information Services Corporation2.01B66.6425.5310.33%3.29%6.07%4.73%0.40
BOWBowhead Specialty Holdings Inc.831.05M25.3519.6550.16%10.12%12.21%35.04%
AXSAXIS Capital Holdings Limited7.73B100.348.127.66%16.11%15.91%23.87%0.24

Profit & Loss

Dec 2022Dec 2023Dec 2024
Revenue+187.6M283.42M425.59M
Revenue Growth %-0.51%0.5%
Medical Costs & Claims+126.95M187.22M280.5M
Medical Cost Ratio %---
Gross Profit+60.65M96.2M145.1M
Gross Margin %---
Gross Profit Growth %-0.59%0.51%
Operating Expenses+45.99M64.09M94.56M
OpEx / Revenue %---
Depreciation & Amortization727K2.27M3.87M
Combined Ratio %---
Operating Income+14.66M32.12M50.53M
Operating Margin %---
Operating Income Growth %-1.19%0.57%
EBITDA+15.39M34.38M54.4M
EBITDA Margin %---
Interest Expense00725K
Non-Operating Income00-725K
Pretax Income+14.66M32.12M50.53M
Pretax Margin %---
Income Tax+3.4M7.07M12.29M
Effective Tax Rate %---
Net Income+11.26M25.05M38.24M
Net Margin %---
Net Income Growth %-1.23%0.53%
EPS (Diluted)+0.360.791.29
EPS Growth %-1.19%0.63%
EPS (Basic)0.360.791.31
Diluted Shares Outstanding31.53M31.53M29.68M

Balance Sheet

Dec 2022Dec 2023Dec 2024
Total Assets+565.21M1.03B1.65B
Asset Growth %-0.82%0.61%
Total Investment Assets+282.92M0889.99M
Long-Term Investments282.92M0889.99M
Short-Term Investments282.92M0889.99M
Total Current Assets+0118.07M0
Cash & Equivalents64.66M118.07M97.48M
Receivables1000K1000K1000K
Other Current Assets-515.14M-39.92M-1.46B
Goodwill & Intangibles+0-269.03M0
Goodwill0-288.44M0
Intangible Assets019.41M0
PP&E (Net)6.05M7.6M6.84M
Other Assets-288.97M610.34M-896.83M
Total Liabilities481.83M835.78M1.28B
Total Debt+000
Net Debt-64.66M-118.07M-97.48M
Long-Term Debt000
Short-Term Debt000
Total Current Liabilities+000
Accounts Payable23.69M40.44M51.86M
Deferred Revenue000
Other Current Liabilities-37.23M-55.38M-71.44M
Deferred Taxes000
Other Liabilities0835.78M0
Total Equity+83.37M192.08M370.44M
Equity Growth %-1.3%0.93%
Shareholders Equity83.37M192.08M370.44M
Minority Interest000
Retained Earnings-381K24.67M62.91M
Common Stock0240K327K
Accumulated OCI-16.69M-11.37M-11.15M
Return on Equity (ROE)0.14%0.18%0.14%
Return on Assets (ROA)0.02%0.03%0.03%
Equity / Assets---
Debt / Equity---
Book Value per Share2.646.0912.48
Tangible BV per Share---

Cash Flow

Dec 2022Dec 2023Dec 2024
Cash from Operations+181.64M236.22M294.29M
Operating CF Growth %-0.3%0.25%
Operating CF / Revenue %---
Net Income11.26M25.05M38.24M
Depreciation & Amortization727K2.27M3.87M
Stock-Based Compensation368K683K4.1M
Deferred Taxes-2.97M-4.36M-6.17M
Other Non-Cash Items570K-2.27M-532K
Working Capital Changes171.69M214.86M254.77M
Cash from Investing+-187.46M-274.76M-325.88M
Capital Expenditures-3.97M-3.82M-3.11M
Acquisitions000
Purchase of Investments-198.29M-367.25M-612.93M
Sale/Maturity of Investments1000K1000K1000K
Other Investing000
Cash from Financing+-1M77.66M133.89M
Dividends Paid-25M00
Share Repurchases-25M00
Stock Issued24M77.66M133.82M
Debt Issuance (Net)-1000K1000K0
Other Financing26M-77.66M64K
Net Change in Cash+-6.81M39.12M102.29M
Exchange Rate Effect01K0
Cash at Beginning87.47M80.65M119.77M
Cash at End80.65M119.77M222.06M
Free Cash Flow+177.67M232.41M291.18M
FCF Growth %-0.31%0.25%
FCF Margin %---
FCF per Share5.647.379.81

Key Ratios

Metric202220232024
Combined Ratio92.19%88.67%88.13%
Medical Cost Ratio67.67%66.06%65.91%
Return on Equity (ROE)13.5%18.19%13.6%
Return on Assets (ROA)1.99%3.14%2.85%
Equity / Assets14.75%18.69%22.39%
Book Value / Share2.646.0912.48
Revenue Growth-51.07%50.16%

Frequently Asked Questions

Valuation & Price

Bowhead Specialty Holdings Inc. (BOW) has a price-to-earnings (P/E) ratio of 19.7x. This is roughly in line with market averages.

Growth & Financials

Bowhead Specialty Holdings Inc. (BOW) grew revenue by 50.2% over the past year. This is strong growth.

Yes, Bowhead Specialty Holdings Inc. (BOW) is profitable, generating $52.5M in net income for fiscal year 2024 (9.0% net margin).

Dividend & Returns

Bowhead Specialty Holdings Inc. (BOW) has a return on equity (ROE) of 13.6%. This is reasonable for most industries.

Industry Metrics

Bowhead Specialty Holdings Inc. (BOW) has a combined ratio of 88.1%. A ratio below 100% indicates underwriting profitability.

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